The Elitist

September 29, 2008

House Rejects Bailout – World Effectively Ends

Filed under: Financial Crisis — The Elitist @ 3:04 pm

The House just rejected the $700 billion bailout, and stocks plunged almost 7% in the blink of an eye. Let’s review what’s happened so far:

  • President Bush’s dream team, Paulson and Bernanke, failed to do anything to prevent the crisis from starting. As it started and got worse, they did the absolute minimum to stop it. This cost us unnecessary money and failed to have any effect.
  • Henry Paulson offered a $700 billion bailout proposal designed to help stop foreclosures. Perhaps the only thing he has been right about. Both parties complained and turned a 3 page proposal into 110 pages of bullshit.
  • John McCain suspended his campaign to help “solve” the financial crisis. Net effect: his campaign never actually stopped and the financial crisis continues.
  • Due to election year politics, the bailout was rejected, the stock market crashed, the new great depression (perhaps the greatest depression?) began, plunging the world into darkness.
  • Despite Congress’ fear to do anything costing that much money, the Fed is going to instead infuse the markets with $630 billion. A much better number.
  • As we sit through Armageddon, the world waits for the second coming of Jesus who will return to Earth to buy all the bad mortgages.


Buy Buy Buy! Yeah Jesus!

Buy Buy Buy! Yeah Jesus!

NY Times – The End of the World

WashPo – We Must Sell Our Children for Food


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